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Understanding Real Estate Offers In North Carolina

Hiring a real estate professional in the Raleigh NC area will ensure that you home selling or buying experience results in an informed real estate transaction. With the ever changing legal landscape, your local Raleigh NC Realtor & Real Estate professional at the Langley Realty Team, will ensure that your legal rights are protected as well as negotiate a win-win offer for you whether you are buying or selling a home.

For families who are selling their home in Raleigh, we will help guide you through the process. Below is an example of questions your realtor often receives about real estate transactions and documents involved in buying or selling a home in Raleigh NC.

1. How do sellers receive an offer on their Homes for Sale in Raleigh NC?.

Buyers who are interested in your home will submit an offer on the North Carolina Offer to Purchase and Contract Form, Standard Form 2-T that has been approve by the North Carolina Bar Association and North Carolina Association of Realtors. Your Realtor in Raleigh NC will review all offers with you to discuss the advantageous or disadvantageous of an offer based on offer price, deposits, closing costs, terms of the loan, and closing date as well as any other items that might be requested as part of the offer from a qualified buyer. The offer is not considered accepted until all parties have signed the offer. Typically, a seller will most likely make a counteroffer either verbally or in writing. Once all parties have agreed to the terms and both the buyers and sellers have signed the offer, then it becomes a legally binding contract. The buyer are obligated to buy the home and sellers are obligated to sell their home unless an item is not met per the contract.

2. Should a home seller counter the buyers offer?

There are many reasons that a seller might counter an offer from a home buyer and may do so if they want to change any of the proposed terms such as:.

Offer price too low

Due Diligence Deposit too low

Earnest Money too low

Length of Time to Close too long

Closing date does not work with your moving plans

Not wanting to provide any personal property requested in the offer that the buyer is requesting as part of their offer to buy your home

If a home seller makes any changes to the original offer, it cancels the offer from the buyer who is interested in your Raleigh home. The seller cannot then go back and accept the original offer unless the buyer represents the offer again. Remember, you offer as a seller is not considered a new offer and puts the negotiations in the buyers hands.

Once your potential home buyer has received your counteroffer they can either accept the offer by initialing any changes you have made or they can counter your counteroffer a second time until you reach an agreement or reject your counteroffer.

Homeowners selling a home in North Carolina also can respond to an offer with the Response to Buyers Offer Form 340-T. Typically, if a homeowner has multiple offers this is the best form as it allows the seller to let the potential buyer know what they would consider but does result in an actual counter offer so the seller may accept any other offers to purchase in the meantime. Your Raleigh Real Estate agent will help you decide if you should make a counteroffer. Our realty team has expertise in handling offers and providing you with detailed information to help you make a decision to accept an offer our counter the buyers offer. Since we will have already discussed your homes worth, you will be ready to make a decision quickly.

The decision to accept an offer often also depends on if you are selling in a buyers market or a sellers market. Being inflexible in a buyers market could easily result in the buyer moving on to another home on their list. If the Raleigh market favors sellers, this give you as the homeowner, more options and negotiating power particularly if you live in a high-demand Raleigh community.

Your Raleigh NC RealtorĀ® is there to listen to your needs and goals in your real estate transaction. While ultimately it is your decision on what price you want to sell your home, a professional agent will be sure to help guide you in making the best decision for you or your family. If you are thinking of selling a home in Raleigh NC or surrounding communities, the Langley Realty Team would love to meet with you and discuss our proactive home selling process.

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